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REPORT: California Pension Plans Out of Control

 
REPORT: California Pension Plans Out of Control
Posted Thursday, June 19th 2014 @ 3pm  by KFBK News - Joe Michaels

A non-partisan think-tank says California's state and local governments are going bankrupt while employee pensions, salaries and benefits are spiraling out of control.

The California Policy Center today released 2013 payment figures which, President Mark Bucher says, show surprising use of taxpayer money.

"We saw pensions, close to a million dollars a year. There are actually people in the state of California who retire, and on the day they retire, they get a check for a million dollars," Bucher said. 

That data includes pension information from the large state systems and payroll data from state agencies, counties, the CalState system, and community colleges.  

Among other things, it found Sacramento CEO's making $370,000 a year; CalSTRS retirees taking home six-figure pension payouts; and an L.A. fire Chief's $998,000 a year salary.

See who's making what, here.

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